A large affordable housing community in Ocala, Florida, has sold to a Boston-based property management firm in the latest Greysteel-managed transaction for the Sunshine State.  

Changing hands: Parkside Gardens, a 144-unit affordable housing community built in 1970, has been sold by Community Housing Partners of Christiansburg, Virginia, to JE Properties, a Boston-based firm with experience managing affordable housing developments. JE expressed their desire to improve the community and the lives of its residents through much-needed material updates and renovations. 

From the source: “The Seller is thrilled to complete the transaction; being a mission-focused owner, developer, and manager, they are very pleased to transact with a group that is extending the affordability covenants on the property and will be a good steward of the asset,” said Greysteel’s Fletcher Hultman. 

Sunny success: The Parkside Gardens deal is one of several that Greysteel has recently completed in the Sunshine State. The national real estate brokerage has a 900-unit portfolio of negotiations that they have conducted on behalf of sellers in Florida alone. 

 

Credit: CRE Daily Newsroom